Sen. Brown proposes infrastructure bank for Brent Spence
Cincinnati Business Courier – Ohio Sen. Sherrod Brown assembled a group of business, labor and local government officials in Cincinnati Tuesday to voice support for new legislation that would create a national infrastructure bank to finance big-ticket projects like the Brent Spence Bridge.
But the business leaders in attendance stopped short of endorsing the use of bridge tolls to pay off loans from the yet-to-be-created bank.
“We’re against tolls. We consider it double taxation,” said Dave Baumann, transportation division manager for United Parcel Service Inc.bizWatch (NYSE: UPS)
Kroger Co.bizWatch (NYSE: KR) Vice President of Logistics Frank Bruni, who spoke in support ofthe infrastructure bank proposal, declined to comment on tolls.
Brown’s proposal calls for projects of national significance to receive financing as long as they as they can demonstrate “an ability to repay the loan.” Asked whether tolls would be required by such a loan, Brown said, that would be up to state and local governments to decide.
